340B Accountability Act of 2023

This bill requires covered entities participating in the federal 340B drug discount program to allow the Health and Human Services Secretary to audit their records at no cost to the entity. It mandates that these entities retain and provide records showing how they use the savings from discounted drugs. The law directly affects safety-net hospitals, clinics, and other providers enrolled in the 340B program, which serves low-income patients. The key provision adds audit authority and record-keeping requirements to verify how program savings are utilized. This focuses on transparency in how covered entities manage the financial benefits of the 340B program.